An Examination of the Effect of Funds Provided by Cooperative Thrift and Credit Societies on the Performance of Small-Scale Businesses in Nigeria

ARIBABA Foluso Olugbenga


This study examined how CTCS funding has affected the performance of small-scale businesses. This was with a view to providing information on the role of CTCS in the development and growth of small-scale businesses.

Primary data involving the administration of questionnaire was utilized for the study. Copies of questionnaires were administered to 20 CTCS randomly selected leaders from each of the six major towns in Ondo state namely Akure, Ikare, Irele, Okitipupa, Ondo, and Owo; totaling 120. Also, copies of questionnaire were administered to 240 entrepreneurs that are Cooperative members from each of the six towns. The instrument elicited information on the socio-demographic background of the cooperative leaders and small-scale entrepreneurs, the sources of funds to CTCS, sources of finance available to small-scale businesses, effect of Cooperative loans on small-scale business performance, problems encountered by the CTCS in financing small-scale business, and the specific problems facing small-scale businesses in getting the needed funding from the CTCS. Data collected were analysed using descriptive statistics.

The result of the study showed that CTCS funding has affected positively the performance of small-scale businesses: the small-scale business performance F-test and its level of significance which were used in the analysis showed that Current liabilities was significant (F=9.78, p<0.05); Fixed assets was significant (F=8.20, p<0.05); and Current assets was significant (F=10.92, p<0.05).

The study concluded that membership of CTCS by entrepreneurs had a positive impact on the performance of small-scale businesses in Nigeria.

Keywords: Keywords, Credit union, Entrepreneur, small-scale business

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